Payment of honorarium to secretary is treated as __________

Capital Expenditure

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Revenue Expenditure

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Cash Expenses

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None of these

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Solution

The correct option is B
Revenue Expenditure

Payment of honorarium to secretary is treated as revenue expenditure.

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Q. Honorarium is a kind of remuneration paid to a person who is not the employee of a nonprofit organization. Which of the following statements is true about the honorarium payment ?

From the information given below, draft receipts and Payments Account of Friends club, Delhi, for the year ended March 31, 2013:
Cash on April 1, 2012 Rs 3,600, Subscriptions Rs 37,600, donations Rs 8000, Entrance Fees Rs 4,300, Rent Realized from club Hall Rs 5,250, Electric charges Rs 3,440, Taxes Rs 500, Salaries and wages Rs 21,500, Honorarium to secretary Rs 2,500, Interest Received on Investments Rs 2,950, Printing and Stationery Rs 350, Pretty cash Payments Rs 100, Insurance Premium Paid Rs 310.

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Payment of honorarium to secretary is treated as __________

The correct option is B Revenue Expenditure Payment of honorarium to secretary is treated as revenue expenditure.

The correct option is B
Revenue Expenditure

Payment of honorarium to secretary is treated as revenue expenditure.